The U.S. Department of the Treasury withdrew the regulatory proposal regarding non-custodial wallets and cryptocurrency mixing services

According to market news, the U.S. Treasury has withdrawn its previous proposal for cryptocurrency regulation concerning unhosted wallets and convertible virtual currency (CVC) mixing services.

It is reported that the proposal aimed to expand the scope of monitoring cryptocurrency trading activities, including requiring financial institutions to collect and report relevant information involving unhosted wallets and cryptocurrency mixing services. This withdrawal means that the related monitoring rules will not be advanced for the time being.